{"url_path":"/sec/tvaiu/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1872228/0001193125-26-223754-index.html","accession_number":"0001193125-26-223754","cik":"0001872228","ticker":"TVAI","issuer_name":"Thayer Ventures Acquisition Corp II","edgar_url":"https://www.sec.gov/Archives/edgar/data/1872228/0001193125-26-223754-index.html","primary_entity_key":"0001872228","primary_entity_name":"Thayer Ventures Acquisition Corp II"},"word_count":1014,"has_tables":true,"body_markdown":"10-Q\n\n##### Table of Contents\n\nQ1false--12-310001872228CAClass A Ordinary Shares, par value $0.0001 per share 0001872228 2026-01-01 2026-03-31 0001872228 2025-12-31 0001872228 2026-03-31 0001872228 2025-01-01 2025-03-31 0001872228 2025-05-16 2025-05-16 0001872228 2026-03-31 2026-03-31 0001872228 2025-05-16 0001872228 2025-01-01 2025-06-30 0001872228 2025-03-31 2025-03-31 0001872228 2025-01-01 2025-12-31 0001872228 2024-12-31 0001872228 2025-03-31 0001872228 us-gaap:CaliforniaFranchiseTaxBoardMember 2026-03-31 0001872228 us-gaap:CommonClassBMember 2026-03-31 0001872228 us-gaap:CommonClassAMember 2026-03-31 0001872228 tvaui:WorkingCapitalLoanMember 2026-03-31 0001872228 srt:MaximumMember 2026-03-31 0001872228 tvaui:FounderSharesMember 2026-03-31 0001872228 tvaui:PromissoryNoteMember 2026-03-31 0001872228 tvaui:FounderSharesMember 2026-03-31 0001872228 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2026-03-31 0001872228 tvaui:UnitsEachConsistingOfOneClassAOrdinaryShareParValue00001PerShareAndOneRightEntitlingTheHolderToReceiveOneTenthOfAClassAOrdinaryShareMember 2026-01-01 2026-03-31 0001872228 us-gaap:RightsMember 2026-01-01 2026-03-31 0001872228 us-gaap:CommonClassAMember 2026-01-01 2026-03-31 0001872228 tvaui:PublicWarrantsMember 2026-01-01 2026-03-31 0001872228 tvaui:AdministrativeServiceFeeMember us-gaap:RelatedPartyMember 2026-01-01 2026-03-31 0001872228 tvaui:FounderSharesMember 2026-01-01 2026-03-31 0001872228 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0001872228 tvaui:NonRedeemableClassACommonSharesAndCommonClassBMember 2026-01-01 2026-03-31 0001872228 tvaui:RedeemableClassACommonSharesMember 2026-01-01 2026-03-31 0001872228 us-gaap:CaliforniaFranchiseTaxBoardMember 2025-12-31 0001872228 us-gaap:CommonClassBMember 2025-12-31 0001872228 us-gaap:CommonClassAMember 2025-12-31 0001872228 tvaui:PromissoryNoteMember 2025-12-31 0001872228 tvaui:WorkingCapitalLoanMember 2025-12-31 0001872228 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2025-12-31 0001872228 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0001872228 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0001872228 tvaui:RedeemableClassACommonSharesMember 2025-01-01 2025-03-31 0001872228 tvaui:NonRedeemableClassACommonSharesAndCommonClassBMember 2025-01-01 2025-03-31 0001872228 us-gaap:CommonClassAMember us-gaap:OverAllotmentOptionMember 2025-05-16 2025-05-16 0001872228 us-gaap:CommonClassAMember us-gaap:IPOMember 2025-05-16 2025-05-16 0001872228 us-gaap:CommonClassAMember us-gaap:PrivatePlacementMember 2025-05-16 2025-05-16 0001872228 tvaui:PrivatePlacementUnitsMember 2025-05-16 2025-05-16 0001872228 us-gaap:USTreasurySecuritiesMember us-gaap:PrivatePlacementMember 2025-05-16 2025-05-16 0001872228 tvaui:UnderwritingAgreementMember 2025-05-16 2025-05-16 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2025-05-16 2025-05-16 0001872228 us-gaap:PrivatePlacementMember 2025-05-16 2025-05-16 0001872228 us-gaap:CommonClassAMember us-gaap:OverAllotmentOptionMember 2025-05-16 0001872228 us-gaap:CommonClassAMember us-gaap:IPOMember 2025-05-16 0001872228 us-gaap:CommonClassAMember us-gaap:PrivatePlacementMember 2025-05-16 0001872228 us-gaap:USTreasurySecuritiesMember us-gaap:PrivatePlacementMember 2025-05-16 0001872228 tvaui:UnderwritingAgreementMember 2025-05-16 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2025-05-16 0001872228 us-gaap:PrivatePlacementMember 2025-05-16 0001872228 tvaui:PublicRightsMember us-gaap:MeasurementInputSharePriceMember 2025-05-16 0001872228 tvaui:PublicRightsMember us-gaap:MeasurementInputExpectedTermMember 2025-05-16 0001872228 tvaui:PublicRightsMember us-gaap:MeasurementInputComparabilityAdjustmentMember 2025-05-16 0001872228 tvaui:PublicRightsMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2025-05-16 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2024-05-06 2024-05-06 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2024-05-06 0001872228 tvaui:UnsecuredPromissoryNoteMember 2024-05-06 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2024-09-09 2024-09-09 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2024-09-09 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2025-01-28 2025-01-28 0001872228 tvaui:SponsorMember tvaui:FounderSharesMember 2025-03-11 2025-03-11 0001872228 tvaui:SponsorMember 2025-03-31 2025-03-31 0001872228 us-gaap:CommonClassAMember 2026-05-14 0001872228 us-gaap:CommonClassBMember 2026-05-14 0001872228 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2025-12-31 0001872228 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2025-12-31 0001872228 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0001872228 us-gaap:RetainedEarningsMember 2025-12-31 0001872228 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2026-03-31 0001872228 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2026-03-31 0001872228 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0001872228 us-gaap:RetainedEarningsMember 2026-03-31 0001872228 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2024-12-31 0001872228 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2024-12-31 0001872228 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001872228 us-gaap:RetainedEarningsMember 2024-12-31 0001872228 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2025-03-31 0001872228 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2025-03-31 0001872228 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001872228 us-gaap:RetainedEarningsMember 2025-03-31 xbrli:shares iso4217:USD utr:Day xbrli:pure iso4217:USD xbrli:shares utr:Year utr:Y\n\n \n\n \n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\n \n\nFORM\n10-Q\n\n \n\n \n\n(Mark One)\n\n☒\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\n \n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from\n\n    \n\nto\n\n    \n\nCommission File Number:\n001-42641\n\n \n\n \n\nTHAYER VENTURES ACQUISITION CORPORATION II\n\n(Exact name of registrant as specified in its charter)\n\n \n\n \n\n \n\nCayman Islands\n\n \n\n98-1795713\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n \n\n(I.R.S. Employer\n\nIdentification No.)\n\n25852 McBean Parkway Suite 508 Valencia,\nCA\n\n \n\n91355\n\n(Address of principal executive offices)\n\n \n\n(Zip Code)\n\n(415)782-1414\n\n(Registrant’s telephone number, including area code)\n\nNot Applicable\n\n(Former name, former address and former fiscal year, if changed since last report)\n\n \n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\n \n\nTrading\n\nSymbol(s)\n\n \n\nName of each exchange\n\non which registered\n\nUnits, each consisting of one Class A Ordinary Share, par value $0.0001 per share, and one Right entitling the holder to receive\none-tenth\nof a Class A Ordinary Share\n\n \n\nTVAIU\n\n \n\nThe Nasdaq Stock Market LLC\n\nClass A Ordinary Shares, par value $0.0001 per\n\nshare\n\n \n\nTVAI\n\n \n\nThe Nasdaq Stock Market LLC\n\nRights\n\n \n\nTVAIR\n\n \n\nThe Nasdaq Stock Market LLC\n\nCheck whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T(§232.405\nof this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a\nnon-accelerated\nfiler, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in\nRule 12b-2\nof the Exchange Act.\n\n \n\nLarge accelerated filer\n \n☐\n  \nAccelerated filer\n \n☐\n\nNon-accelerated\nfiler\n \n☒\n  \nSmaller reporting company\n \n☒\n\n \n\n  \nEmerging growth company\n \n☒\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule\n12b-2\nof the Exchange Act). Yes ☒ No ☐\n\nAs of May 14, 2026, there were 20,487,500 Class A Ordinary Shares, par value $0.0001 per share, and 6,708,333 Class B Ordinary Shares, par value $0.0001 per share, of the registrant issued and outstanding.\n\n \n\n \n\n \n\n##### Table of Contents\n\nTHAYER VENTURES ACQUISITION CORPORATION II\n\nFORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2026\n\nTABLE OF CONTENTS\n\n \n\n \n  \nPage\n \n\n[Part I. Financial Information](#fin121309_1)\n\n  \n\n[Item 1. Financial Statements](#fin121309_2)\n\n  \n\n[Condensed Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 2025](#fin121309_3)\n\n  \n \n1\n \n\n[Condensed Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#fin121309_4)\n\n  \n \n2\n \n\n[Condensed Statements of Changes in Shareholders’ Deficit for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#fin121309_5)\n\n  \n \n3\n \n\n[Condensed Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#fin121309_6)\n\n  \n \n4\n \n\n[Notes to Condensed Financial Statements (Unaudited)](#fin121309_7)\n\n  \n \n5\n \n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#fin121309_8)\n\n  \n \n17\n \n\n[Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk](#fin121309_9)\n\n  \n \n19\n \n\n[Item 4. Controls and Procedures](#fin121309_10)\n\n  \n \n19\n \n\n[Part II. Other Information](#fin121309_11)\n\n  \n \n20\n \n\n[Item 1. Legal Proceedings](#fin121309_12)\n\n  \n \n20\n \n\n[Item 1A. Risk Factors](#fin121309_13)\n\n  \n \n20\n \n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#fin121309_14)\n\n  \n \n20\n \n\n[Item 3. Defaults Upon Senior Securities](#fin121309_15)\n\n  \n \n20\n \n\n[Item 4. Mine Safety Disclosures](#fin121309_16)\n\n  \n \n20\n \n\n[Item 5. Other Information](#fin121309_17)\n\n  \n \n20\n \n\n[Item 6. Exhibits](#fin121309_18)\n\n  \n \n21\n \n\n[Part III. Signatures](#fin121309_19)\n\n  \n \n22\n \n\n \n\n##### Table of Contents\n\nPART I - FINANCIAL INFORMATION"}